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LAFAYETTE, COLO. – The 254-unit Prana Apartment Homes in Lafayette has received a $34.5-million refinance. The community is located at 550 Viridian Drive. It sits adjacent to the Exempla Good Samaritan Medical Center and Kaiser’s Rock Creek Medical Offices in southeastern Boulder County.
The funds will be used to replace a HUD loan that had a much higher rate. That loan was closed to prepayment until last month.The new 10-year loan features a fixed interest rate of 4.74 percent. It also contains five years of interest-only amortization and some cash-out proceeds above the existing loan balance.
HFF’s Josh Simon, Eric Tuplerand Chad Murraysecured the new Fannie Mae loan for LLJ Stratford Prana LLC.